It is already good!
Hi Dave,
I think you will find a lot of the 'moaners' are first time property investers who believed the hype. It is extremely rare to 'double your money' from any develpment anywhere in the world by buying off plan and selling at completion. Property always has been and always will be long term. Those from UK, seem to have forgotton that they could not have bought an apartment at this price in UK. And they would not be able to see any cash flow from renting it. A UK property costing £120,000 would only rent for around £6000 per year, which is lot less rent than IC for more than twice the price. As for the delays etc, again the inexperienced moaning. Just remind them of Wembly Stadium. I have never had any development handed over on time. As for the extra costs, I must say that this has been the only real dissappointment for me so far, they should have been upfront about these and not tagged on after all the payments were made, disgusting! As is the maintenance charge. In terms of investment though it is already proved good for me, as I am aready seeing profit (although very small) after paying ALL costs, using 100% borrowed money to purchase in IC. To put it another way I am making profit on money borrowed from the bank in year one. How can that be anything other than a good investment? This has never ever happened to me anywhere else, I have always had to rely on capital appreciation. Yes I know other developments are better, there always is, but I believe this will be great. All you beginners just hang on in and you will see!
|